For all the challenges facing Realtors this year in the current economic climate, 2022 is very different from the 2008 housing crisis.
That was just one of many observations made by economist Lisa Sturtevant, Ph.D., when she addressed the Chesapeake Bay & Rivers Association of Realtors at last Thursday’s membership meeting. Approximately 60 real estate professionals attended the dinner, which was held at Mobjack Tavern, White Marsh.
Sturtevant, who is Chief Economist for the Virginia Realtors trade organization, gave her outlook for the market in the months ahead. While Realtors face some major challenges in that market, the situation is not as dire as that faced by real estate professional in the aftermath of the 2008 housing bubble.
In her talk, Sturtevant pointed out some of the positive aspects of the current economic climate, such as strong, rebounding job numbers following the pandemic and pent-up demand from potential homebuyers. But those positives are set aga...
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